Navigating Life Transitions - Interview with Laura Englund
Release Date: 02/12/2024
Longevity Risk and Your TFSA Strategy
The Heart of Your Money
We spend our working lives saving for retirement, but what if the biggest risk isn't the markets? It's living too long. The average Canadian retiree now lives well into their eighties—great news, unless your money doesn't last as long as you do. Most retirement income plans quietly taper off around 85, leaving a dangerous gap. Longevity risk is the chance that you live longer than your savings were planned to last. And it's quietly threatening even the best retirement plans. But there's a simple strategy most people overlook: flipping how you think about your TFSA. Instead of treating it as...
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The Go-Go, Slow-Go and No-Go Years of Retirement
The Heart of Your Money
Picture this: you're planning "retirement" like it's one big phase. Golf every day, travel the world, maybe some time with the grandkids. But here's what I learned when I took my mom to Europe and watched a retired NBA player struggle through the tour. Retirement isn't one phase—it's three completely different stages. And if you don't plan for all of them, you're setting yourself up for some expensive surprises. I call them the Go-Go, Slow-Go and No-Go years. Each phase has different energy levels, different priorities, and most importantly, different financial needs. Your 65-year-old self...
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How to Manage the Deaccumulation and Withdrawal Phase of Retirement in an Economic Downturn
The Heart of Your Money
You've saved diligently, planned carefully, and can finally see retirement on the horizon. Then the market crashes. Does this mean putting your dreams on hold? Not necessarily. In this episode of Heart of Your Money, we dive into the often-overlooked "deaccumulation phase" – how to spend your retirement savings wisely even when markets work against you. We'll explore why the timing of market downturns can devastate unprepared retirees, share a real-world success story of a couple who retired during an 8% market decline, and reveal strategies that go beyond the oversimplified "4% rule." Ready...
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Effort Over Results: Quinn Magnuson's Journey from CFL to Leadership Coach
The Heart of Your Money
In this inspiring episode, we sit down with Quinn Magnuson, a former CFL player who has successfully transitioned from professional sports into business advising and leadership coaching. Quinn shares his remarkable journey from growing up on social assistance to earning a football scholarship that changed his life path. His unique philosophy of "Effort Over Results" emerged from his experiences in sports, teaching, and business ownership. In this episode, Quinn helps business leaders understand that true growth comes from valuing process over outcomes, creating psychological safety, and...
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How Tax-Smart Retirement Planning Can Keep Thousands More in Your Pocket
The Heart of Your Money
Whether you're just receiving your first paycheck or mapping out your retirement, understanding Canada's tax system is crucial for your financial well-being. In this episode of Heart of Your Money, I break down marginal tax rates and progressive taxation in simple, practical terms. You'll discover why that "next dollar earned" doesn't push all your income into a higher tax bracket. Tax-Smart Retirement Planning isn't just about saving—it's about strategic withdrawals that keep you in lower tax brackets. I share real examples, including how my husband's retirement income only decreased by...
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Tariffs, Turmoil, Truth: What’s Really Happening in the Markets
The Heart of Your Money
Markets are in turmoil as new tariffs shake investor confidence, but is this truly the crisis the headlines suggest? In this episode, we cut through the panic to reveal what these trade policies really mean for your portfolio. Get the straight facts on the recent US tariff announcements, understand their actual impact on different sectors, and discover why seasoned investors see opportunity where others see only risk. Learn how to position yourself to not just weather this storm but potentially profit from it. Don't let fear drive your financial decisions—tune in now to gain the clarity and...
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Beyond the Financial Portfolio: Investing in Community with Fraz Wiest
The Heart of Your Money
In a world increasingly focused on digital connection, there's something profoundly human about gathering in a circle to share stories. My conversation with Fraz Wiest, Development and Community Engagement Administrator at Regina's Globe Theatre, explores how theatre creates authentic bonds that transcend entertainment. As Canada's only permanent theatre-in-the-round completes its four-year renovation, Fraz reveals why supporting local arts represents a community investment with returns measured in connection, purpose, and belonging. From his personal journey as a theatre-loving child to his...
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Minimizing Taxes on Retirement Income
The Heart of Your Money
Retirement should be about enjoying life, not worrying about taxes eating away at your hard-earned savings. Yet many Canadians unknowingly pay thousands more in taxes than necessary simply because their investments are in the wrong accounts. In this episode, I break down three critical types of investment income—interest, dividends, and capital gains—and explain why understanding the tax implications of each can dramatically reduce your tax burden. Whether you're already retired or planning ahead, knowing how to properly position your investments across registered and non-registered...
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The importance of aligning investments with retirement lifestyle goals
The Heart of Your Money
What does your ideal retirement lifestyle look like? Before diving into investment strategies and portfolio allocations, we need to start with a more fundamental question: What truly matters to you? In this episode of Heart of Your Money, we explore how understanding your core values transforms financial planning from a numbers game into a purposeful journey. Through real stories and practical exercises, you'll discover how to align your investments with your deepest goals – whether that's preserving a family legacy, supporting the next generation, or creating the freedom to...
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The Simple Way to Structure Cash Flow in Retirement
The Heart of Your Money
Ready to structure cash flow in retirement but feeling overwhelmed? While it might not be the most exciting topic, creating a clear system for your retirement income and expenses is crucial for a stress-free future. In this episode, I'm breaking down a simple yet effective two-bucket approach to managing your money in retirement. By separating your fixed expenses from your fun money, you'll gain the clarity and confidence to spend without worry. Whether you're planning for retirement or already there, this practical guide will help you create a system that ensures both your...
info_outlineEmbark on a journey of insightful revelations with Laura Englund as she unravels the intricacies of navigating life transitions, including these three key takeaways that might just reshape your perspective:
🙌 Early Conversations Are Key: Laura passionately advocates for the power of early conversations and strategic planning when it comes to life transitions. Waiting until retirement, she cautions, might add unnecessary stress. Learn why initiating these dialogues sooner rather than later can be a game-changer in navigating the twists and turns of life.
🙌 Downsizing Beyond the Tangibles: In a heartwarming exploration of personal anecdotes, Laura delves into the emotional toll and family dynamics associated with downsizing. The big revelation? Downsizing doesn't equate to selling everything. Discover how a shift in perspective, coupled with professional assistance, can streamline the process, allowing you to preserve cherished memories while embracing a simpler lifestyle.
🙌 Embrace Alternatives: Laura encourages us to broaden our horizons by considering downsizing alternatives. It's not just about clearing physical space but finding ways to declutter our lives continually. Moreover, she introduces the concept of aging in place comfortably, showcasing that downsizing doesn't always mean a complete upheaval.
If you want more resources and show notes, check out https://astrafinancial.ca/podcasts/